The high risk high reward play here, for those with the deep pockets and appetite for risk.- Try to figure out where McDs likes to build.

We give people a taste of information to wet people's appetites, but we don't give away everything for free.

We built our 16 person cabin with fire suppression in it because we didn't want to play games with the definition of bedrooms to skirt around the regulations.While I don't disagree with the point your making, I will say that our interactions with the fire marshals and city officials have been way better than we expected. 

It may be there is another guideline that is shifting the math on the loan, or that the secondary market has no appetite currently for the 5% DP loans.

It also doesn't mean that just because FNMA could buy a loan under those terms that they are actively purchasing those loans...which means loan originators may have no appetite to originate those loans. 

It does seem that higher rates are reducing demand for loans, which is driving up home inventory which could - I stress could - suppress home price growth.

It's up to you and your risk appetite.

If it is bad enough that can suppress rental rates but a family looking for $2000/month rental is not going to consider $3000/month units.

Storm pond, storm sewer, fire hydrant, fire suppression systems, fire walls, electric metering and voltage (3phase???)

The last condo I had was in Bozeman MT and swore I would never do that again, but I’ve learned from that experience and my appetite has changed.